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Taylor Wimpey sees highest level of completions in six years
Taylor Wimpey, one of Britain’s largest homebuilders, reported a 7% increase in completions last year, the highest figure in six years.
Out of the 13,341 properties built, 19%, or 2,509, were affordable homes.
The homebuilder said it welcomed the government’s commitment to building new homes, as the Chancellor pledged £7bn to build over 400,000 affordable homes.
The average selling price increased by 9% to £254,000, up from £234,000 in 2014. The builder said price growth was driven by its focus on better quality locations.
Pete Redfern, chief executive of Taylor Whimpey, said the company has seen a record operating profit margin of over 20%, up from 18% in 2014.
It ended the year with a £1.78bn order book, representing 7,484 homes, a rise of 27% year-on-year.
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In its trading statement, Taylor Wimpey said it was confident it would continue to progress throughout 2016, and that it would deliver increased returns for its shareholders.